Investment Rating - The report maintains a "Positive" investment rating for the industry [8]. Core Insights - The computer sector experienced a rebound, rising by 2.59%, ranking second among primary industries in the Yangtze River region, with a trading volume accounting for 10.45% of the market. The focus is on cloud services and AI agents, particularly following strong earnings reports from major cloud service providers like Microsoft and Amazon [2][4][6]. Summary by Sections Market Performance - The computer sector showed a continuous rebound, with a 2.59% increase last week, despite a general market adjustment due to the May Day holiday. The Shanghai Composite Index closed at 3279.03 points, down 0.49% [4][12]. Key Developments - Major cloud service providers, including Microsoft, Google, and Amazon, reported earnings that exceeded market expectations. Microsoft’s Foundry platform is being utilized by over 70,000 developers for AI application design and management. Amazon has signed contracts with several leading global enterprises and is expanding its AI capabilities significantly [6][50]. Recommendations - The report recommends focusing on: 1. Major cloud service providers 2. Domestic computing power supply chains, specifically companies like Cambricon and Ascend 3. Various vertical AI agent-related companies [6][52]. Notable Company Reports - Alibaba released the Qwen3 model, a new generation of mixed reasoning models, which is open-sourced and expected to accelerate the application of AI agents. Duolingo reported a revenue of $230 million for Q1 FY25, a 38% year-over-year increase, and raised its revenue guidance for the upcoming quarters [19][26][27].

丨证券研究报告丨 行业研究丨点评报告丨软件与服务 [Table_Title] AI 产业速递：阿里发布并开源 Qwen3 系列，智 能体应用有望加速落地 报告要点 [Table_Summary] 2025 年 4 月 29 日凌晨，阿里发布并开源新一代通义千问混合推理模型 Qwen3，包含 MoE 和 Dense 两种架构，共 8 款不同尺寸，本次发布的旗舰模型是 Qwen3-235B-A22B。Qwen3 依旧 采用 Apache2.0 协议开源，可免费下载模型并商用，也可以通过阿里云百炼调用 Qwen3 的 API 服务。 分析师及联系人 [Table_Author] 宗建树 SAC：S0490520030004 SFC：BUX668 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 软件与服务 cjzqdt11111 [Table_Title AI 产业速递：阿里发布并开源 2] Qwen3 系列，智 能体应用有望加速落地 [Table_Summary2] 事件描述 4 月 29 日凌晨，阿里发布并开源新一代通义千问混合推理模型 Qwen3，包含 MoE 和 ...